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Medallion Financial Corp. (TAXI) Message Board

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  • norris_3845 norris_3845 Jun 26, 2009 9:16 PM Flag

    Price Surge

    Something is going to happen and that information has leaked to the "smart money." Classic insider trading.

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    • "Something is going to happen and that information has leaked to the "smart money." Classic insider trading."

      Well over 200,000 shares have traded after the bell. One transaction was 123,000 shares and several others at 20,000 shares. Last trade was at 5:35 pm EDT. All but two small after bell transactions were at $8.70 to $8.71. Someone is very eager to buy in at that price or desperate to cover their shorts.

      What I wonder is who is consistently selling at $8.70? 200,000+ after the bell is huge. It is unlikely that many small sellers would be so price consistent. It looks like one big buyer and one big seller. It can't be price manipulation to kill the shorts, that would be too obvious and they would surely get caught by SEC.

 
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